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Toyota to take private key unit in $26 billion deal

Toyota to take private key unit in $26 billion deal

Time of India03-06-2025
Toyota Motor
will take private a key supplier of its group, it said on Tuesday, in a $26 billion deal, marking a landmark repositioning of Japan's most important corporation.
Under the terms of the deal, unlisted real estate company
Toyota Fudosan
will launch a tender offer for shares of
Toyota Industries
for 3.7 trillion yen ($26 billion), the companies said.
Separately, Toyota said it plans to buy back its own shares from Toyota Industries.
Japanese companies have come under growing scrutiny from the market regulator and investors in recent years about their
cross-shareholdings
in affiliates and business partners, sparking a rise in both
management buyouts
and acquisitions.
Many of the deals have been driven by expectations that a
corporate governance
overhaul will bring better shareholder returns.
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Toyota had said in April it was considering participating in a potential buyout of Toyota Industries - a move that sources have said would help improve the group's corporate governance.
Toyota owned about 24% of Toyota Industries as of September last year, while Toyota Industries held around 9% of the world's biggest automaker and more than 5% of Denso, another major Toyota supplier and Toyota group company.
Toyota Industries, formerly Toyoda Automatic Loom Works, was founded in 1926 by Sakichi Toyoda to make automatic looms. An
automotive division
within the company was set up and later spun off as Toyota Motor.
In addition to forklifts, Toyota Industries manufactures the RAV4 sport utility vehicle for Toyota and also produces car parts such as engines, air-conditioning compressors, batteries and converters.
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India ranks 10th in global book publishing with 90,000 titles a year: Who are the top 9?
India ranks 10th in global book publishing with 90,000 titles a year: Who are the top 9?

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  • Time of India

India ranks 10th in global book publishing with 90,000 titles a year: Who are the top 9?

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Nissan Magnite Scores 5-Star Rating In GNCAP Tests
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United News of India

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  • United News of India

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